GSK Bets On Scynexis' FDA-Approved Antifungal Drug For Over $500M In Bio Bucks

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  • GSK plc GSK and Scynexis Inc SCYX have entered into an exclusive license agreement for Brexafemme (ibrexafungerp tablets).
  • The FDA approved the antifungal for vulvovaginal candidiasis (VVC) and reduced the incidence of recurrent VVC (RVVC). 
  • This exclusive agreement gives GSK rights to commercialize Brexafemme for VVC and RVVC while continuing to develop ibrexafungerp, which is in phase 3 trials for potentially treating invasive candidiasis (IC), which affects the blood or internal organs.
  • Scynexis has been looking for a partner after it said last October that it was winding down promotional activities for the drug and announced workforce reduction.
  • Infectious diseases and HIV represent around two-thirds of GSK's pipeline. Brexafemme complements GSK's pipeline alongside late-stage antibiotics gepotidacin and tebipenem.
  • GSK will make an upfront payment to Scynexis of $90 million.
  • Scynexis is due to get $245.5 million in development, regulatory and commercial milestones there — with a separate $15 million tied to an FDA approval. Sales-related milestones add up to another $242.5 million.
  • Price Action: SCYX shares are up 64.70% at $2.75 on the last check Thursday.
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